FACETS 2006 International Gem and Jewellery Show opens next month

Facets Sri Lanka 2006, Sri Lanka’s International Gem and Jewellery Show will be held for the 16th consecutive year from September 6 to 9.

It was well attended by booth holders, officials from the National Gem and Jewellery Authority (NGJA) and the Export Development Board (EDB) and embassy representatives, Facets Organizing Committee Chairman Macky Hashim said at the Booth Holders Meeting held recently.

He said that the Facets Show which began in 1991 with just 50 booths grew rapidly to reach maximum capacity at its previous venue, the Hilton Colombo Hotel, tipping the scale at just over 100 booths, after utilizing every possible space available at that venue.This rapid rise in demand for booths prompted the organizers to consider a shift in venue from the Hilton Colombo to the new Exhibition Centre at the BMICH, which is the largest convention and exhibition facility in Sri Lanka.

Adding to the International flavour of this trade show, Facets 2006 will include foreign exhibitors from Singapore, Dubai, Thailand, India, Hong Kong and Myanmar.

In addition to the numerous new and regular buyers from overseas, the organizers are making special arrangements to welcome trade delegations from Thailand and India.

It is important to note that the Sri Lanka Gem & Jewellery Association, the apex body of the industry, with sponsorship from the NGJA, EDB and private sector organizations have continued to conduct this show for the past 15 years.

The Facets Organizing Committee is also planning to extend invitations to top jewellery designers in the world in the future as a part of their new marketing strategy.

Sri Lankan Airlines will function as the official airline for the Show. Their flights from major destinations will bring in visitors to the Show on a special package that is now on offer.

Other co-sponsors of this show are: official Security Surveillance as Securo Dynamics Ltd., official Freight Forwarder – M A Lanka Pte.Ltd., official Air Express Courier – Fedex Express, official Insurer – Amana Takaful Ltd., official Communication Provider – Kenwood Equipment Traders Ltd., official Contractor – Int. Exhibitions & Conventions Pvt.Ltd., Official Travel Agent – Hermes International Pvt.Ltd.

Via… Daily Mirror

Paving the way for international humanitarian intervention By Jehan Perera

At present the government and LTTE are waging an intense war in some parts of the country. The purpose of the war is unclear as it appears to be fought for limited objectives. Both sides claim to be engaged in defensive actions, and have expressed their readiness to halt their military campaigns if the other side does so.

In the meantime some of their actions have led to international condemnation, especially those that have led to the killing and displacement of the civilian population, and the blocking of humanitarian aid to the conflict affected parts of the country. In fighting the war, both the government and LTTE need to recognize the larger environment that could exact an unexpected price on them.

Over the past two decades the LTTE can claim many successes. Its unconventional tactics have won it many military battles against the Sri Lankan armed forces. It has obtained control over a significant part of the north east.

It has established its own institutions in those parts and gained a measure of international recognition. But these gains have come at a price. One price has been the resolute opposition of the Sinhalese majority and the Muslim minority. The LTTE attack on the Muslim majority town of Muttur, the displacement of its population and the targeted killing of Muslims will further strengthen the Muslim resolve

8 Defendants Arrested by FBI, Charged with Conspiring to Provide Material Support, Resources to Foreign Terrorist Organization

BROOKLYN, N.Y., Aug. 21 /U.S. Newswire/ — Two complaints were unsealed this morning in U.S. District Court in Brooklyn charging eight defendants with multiple crimes, including conspiracy to provide material support and resources to a designated foreign terrorist organization – the Liberation Tigers of Tamil Eelam (LTTE or Tamil Tigers).

Four of the defendants were arrested on Long Island, N.Y., on Aug. 19, 2006, after three of them traveled to New York from Canada to attempt to purchase from an agent acting in an undercover capacity Russian-made SA-18 surface-to-air missiles, missile launchers, AK-47s and other weapons to be used by the LTTE in its rapidly escalating conflict against the Sri Lankan military. These four defendants were acting at the direction of senior LTTE leadership in Sri Lanka.

SL to be a global Open Source Software Hub by 2012

The Lanka Software Foundation has marked 2012 as the year Sri Lanka will be a competent centre for free and Open Source software. This was announced by Mano Sekaram Director of the foundation at the recently held FOSS Enterprise Conference at the WaterEdge Battaramulla.

Sri Lanka’s credit rating may be cut by Fitch on war concern

Sri Lanka’s international credit assessment may be cut by Fitch Ratings if the fiercest fighting since a 2002 truce leads to a full-scale resumption of the South Asian island’s civil war.

Fitch Ratings lowered Sri Lanka’s credit outlook to negative from stable on April 27 after violence on the island increased and a second round of talks between the Government and Tamil Tiger rebels were postponed. Fitch on December 8 assigned Sri Lanka a BB- rating, three levels below investment grade.

"There is a greater than even chance of Sri Lanka’s sovereign ratings being downgraded within an 18 month to two- year time horizon,’’ Fitch Sovereign Team London-based Senior Director Paul Rawkins," said in an e-mail. "If the violence gets much worse or the cease-fire lapses in a formal sense, that time horizon could be significantly shortened.’’

Sri Lanka in the past three weeks has witnessed the worst fighting between the army and Liberation Tigers of Tamil Eelam rebels since the 2002 cease-fire halted the island’s two-decade civil war.

A dispute over water supplies last month escalated into a battle for control of the NorthEastern town of Muttur in the Trincomalee district and fighting in the Northern Jaffna peninsula. Sri Lanka’s $24 billion economy has had uninterrupted growth since Norway brokered the February 2002 cease-fire.

"Things seem to have gone from bad to worse with the violence,’’ said Dilip Parameswaran, Head of Asian credit Research at Calyon in Hong Kong. Even if Sri Lanka wanted to sell bonds, "I’m not sure whether they could,’’ he said.

A bomb attack Aug. 14 that targeted Pakistan’s ambassador to Sri Lanka killed seven people in the capital, Colombo. A June 26 suicide bombing killed the army’s Deputy Chief of Staff and a similar attack in April wounded its commander. A bomb attack on a bus in June killed 60 civilians.

There hasn’t so far been a decline in business confidence and overseas aid flows because of the renewed violence, Fitch’s Rawkins said. "The balance of payments is proving to be resilient to higher oil prices.’’

Still, the island’s inflation remains under pressure and may warrant further increases in interest rates by the Central Bank of Sri Lanka, Rawkins said.

"Apart from the deteriorating security situation, our concerns lie with the macro-economic policy framework,’’ Rawkins said. "Inflation is very high, credit growth is strong; arguably there is a need to tighten monetary policy further.’’

Via… The Island